Stockholm-based Brite Payments is delighted to confirm the launch of ‘Single Sign’, the innovative one-step solution for instant bank payments.
Based on the Open Banking framework, the Brite Payments solution facilitates account-to-account payments, without the need to input card or personal data.
The instant payments provider, which is revolutionising the industry, allows customers to pay straight from their bank account with only one authentication step, except for those cases where additional verification is required by the applicable regulation.
The launch is a significant development for the market, allowing instant bank payments to rival card payments in terms of consumer convenience. Representing the next generation of instant bank payments, the solution has been shown to help users pay up to 40% faster.
By adopting Brite Payments solution, merchants can gain an advantage over competitors and eradicate many long-standing issues around payments and cash flow management. The intuitive system helps to deliver a better customer experience and can also be used to improve rates of customer acquisition and retention.
Already serving clients across the banking, insurance and eCommerce sectors, Brite Payments’ flexible architecture means it can be tailored to a wide range of needs. Furthermore, users get the choice to either use Brite’s mobile optimized and easily customized iframe or build their own flow on top of Brite’s APIs.
Speaking on the announcement, Lena Hackelöer founder and CEO of Brite Payments commented: “We are really proud to launch our ‘Single Sign’ feature to market. At Brite, we believe that the adoption of A2A payments is driven primarily by consumer convenience. Allowing users to authenticate and pay instantly in just one step is a significant leap forward for our industry.
Given that only top-of-mind information is required to make a payment, it will now be more convenient to use an account based payment method rather than a credit card. This achievement is an important milestone for our category of payments in its journey to reach its full potential.”
Brite ‘Single Sign’ is currently available for the majority of customers in the company’s core markets: Sweden, Finland, the Netherlands and Estonia.
